Business news from Ukraine

Business news from Ukraine

Denmark to increase military support for Ukraine by another DKK 4.4 bln

The Danish government and parliament have agreed to increase military support for Ukraine by another DKK 4.4 billion (EUR 590 million) this year, the press service of the Danish Ministry of Defense reports.

“Today, the Danish government and the Socialist People’s Party, the Danish Democrats, the Liberal Alliance, the Conservative People’s Party, the Social Liberal Party and the Danish People’s Party have agreed to increase the framework of military support for Ukraine by another DKK 4.4 billion in 2024,” the statement said on Thursday.

Defense Minister Trolls Lund Pulsen noted that since the beginning of the full-scale Russian invasion of Ukraine, Denmark has been one of the most active donor countries.

“We must continue in the same spirit, so I am pleased that a broad majority of parties in the Danish parliament support the addition of an additional DKK 4.4 billion to the Military Support Fund for Ukraine in 2024. It is extremely important to show Ukrainians that we support them in this serious situation,” he emphasized.

The Ministry notes that most of the funds already allocated for military support in 2024 have already been used. However, the Danish government and parliament agreed on the need for further military support for Ukraine this year, so it was decided to increase it.

“The purpose of military support under the Fund for Ukraine in 2023-2028 will continue to be to provide direct military support to Ukraine in the form of weapons, other military equipment and training efforts. This includes the purchase of equipment, weapons, etc. from Danish and foreign defense companies for transfer to Ukraine, as well as financial donations and cooperation with other countries to support Ukraine,” the statement said.

In addition, representatives of the Danish government and parliament agreed that the possibility of direct purchases from the Ukrainian defense industry can be realized if the necessary control mechanisms are in place.

In total, the total amount of military support under the Ukraine Fund, taking into account its increase, will amount to DKK 64.8 billion (EUR 8.7 billion) in 2023-2028.

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Denmark to allocate additional EUR380 mln to rebuild Ukraine’s infrastructure

The Danish government has decided to allocate additional EUR380m for the reconstruction of Ukraine’s infrastructure and construction of wind farms, Danish Business Minister Morten Bedskou said at a meeting with Ukrainian President Volodymyr Zelensky in Kiev.

According to the press service of the President, during the meeting, the Danish Minister of Entrepreneurship noted the opportunities for strengthening cooperation between the countries and informed about the decision of his government to allocate additional funding for the Ukrainian mechanism of the Danish Export and Investment Fund.

As noted, this mechanism fully covers the risks of Danish exporters and investors, as well as provides financing to Ukrainian private companies and state institutions.

For him, the Danish government will allocate almost EUR380 million more for the restoration of critical infrastructure and construction of wind farms.

At the meeting, Zelensky and Bedskou paid special attention to the prospects of expanding Danish business and attracting new investments in Ukraine.

In turn, the President of Ukraine emphasized the importance of the fact that the Minister of Entrepreneurship of Denmark during his visit to Kiev is accompanied by the heads of Danish companies – the largest investors in the economy of Ukraine.

“Your activity in the Ukrainian market is striking. With your investments you set an example for other partners and investors”, – emphasized Zelensky.

As reported, during the recent visit of the First Lady of Ukraine Olena Zelenska to Denmark, she asked Danish partners for additional funding for the Danish Export and Investment Fund, the funds from which come to help Ukraine.

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Denmark to allocate almost $9 mln to Ukraine to fight corruption

Denmark will allocate DKK 60 million (USD 8.75 million) to Ukraine to support the fight against corruption under the EU Anti-Corruption Action Program (EUACI), the Danish Ministry of Foreign Affairs reports.

Denmark has been leading the EU’s anti-corruption program in Ukraine (EUACI) since 2016. During his visit to Ukraine today, Danish Foreign Minister Lars Lekke Rasmussen announced support for the third phase of the program.

“Even before Russia’s illegal invasion, Ukraine had made significant progress in the fight against corruption, and even while the country is at war, it has managed to continue its positive development. But there are still areas that can be improved, and it is crucial for Ukraine’s EU dream that we help it achieve its goals,” the Foreign Ministry’s press service quoted Rasmussen as saying.

It is noted that the EU is contributing more than 70 million Danish kroner to the upcoming phase of the program, and Denmark is contributing almost 60 million Danish kroner.

Among other things, the program aims to promote openness and honesty in the reconstruction of Mykolaiv through close cooperation with the mayor and his team. It is planned to develop best practices for the reconstruction of Mykolaiv that can be used in other cities of Ukraine.

The ministry said that Rasmussen provided information on Denmark’s support for the EU’s anti-corruption program at today’s meeting with Ukrainian Foreign Minister Dmytro Kuleba. The two foreign ministers met in the Ukrainian city of Mykolaiv, for the restoration of which Denmark has a special responsibility.

They discussed, among other things, how Denmark and Ukraine can further develop cooperation on Mykolaiv and how Denmark can continue to support Ukraine in its fight against Russian aggression.

The Danish Foreign Minister met with students of Mykolaiv Shipbuilding University as well as the city authorities.

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Denmark to provide $13.3 mln for Ukraine’s cyber defense

Denmark is contributing DKK 91 million ($13.3 million) to projects to support the development of cybersecurity and defense of the Armed Forces of Ukraine and the Ministry of Defense of Ukraine.

“The donation is made under the auspices of the Estonia-led and Luxembourg-led IT Coalition for Ukraine, which Denmark has joined along with a number of other countries,” the statement said.

Denmark and other members of the IT Coalition signed a cooperation agreement yesterday on the sidelines of a meeting of the Ukraine Defense Contact Group.

“This donation is an important contribution to the long-term support for strengthening Ukraine’s cyber defense. Since the beginning of the invasion, Denmark has made a significant contribution to the Ukrainian liberation struggle, and this also applies to cyberspace,” said Defense Minister Troels Lund Poulsen.

In addition to Denmark, the coalition includes Estonia, Luxembourg, Iceland, Italy, Latvia, Lithuania, the Netherlands and Ukraine. So far, Denmark, Estonia and Luxembourg have made financial donations to the coalition.

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Denmark has new king

On Sunday, Danish Prime Minister Mette Frederiksen announced the accession of King Frederik X to the throne from the balcony of the Christiansborg Palace in Copenhagen, where he also appeared in front of the public for the first time as king.

Frederiksen thanked Queen Margrethe II for her service to the country.

“The Crown Prince will now be our king, we know him, love him and trust him,” the Prime Minister said.

She wished the new head of state all the best and, according to tradition, wished the king nine times for his health.

Then King Frederik X of Denmark delivered the first speech.

“My mother, Queen Margrethe, ruled Denmark for 52 years. She followed the times, but she took our common heritage as her starting point. Today she has left the throne, but I hope to be the king who unites the country of tomorrow. This is a responsibility I take on with respect, pride and great joy. I need all the support I can get from my beloved wife, my family, from you and from God,” he said.

This was preceded by the ceremony of Queen Margrethe II’s abdication, which she unexpectedly announced in her New Year’s speech on December 31.

Frederik is Margrethe’s eldest son. The title of Crown Prince of Denmark was passed to Frederik’s eldest son, Christian.

According to preliminary estimates by the Danish police, up to 100,000 people gathered in Copenhagen to celebrate the transfer of power.

In honor of the new king, a fireworks display will be held in the harbor of the Danish capital – three times 27 shots from four guns, and late in the evening a fireworks show will be organized in the Copenhagen amusement park Tivoli Gardens.

There is no coronation ceremony in the Danish tradition.

The Danish monarchy is the oldest in Europe, dating back to the tenth century.

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President of Ukraine appoints new Ambassador to Denmark

President of Ukraine Volodymyr Zelenskyy has signed a decree appointing Andriy Yanevsky as Ambassador Extraordinary and Plenipotentiary of Ukraine to the Kingdom of Denmark.

The relevant document No. 714/2023 was published on the President’s website.

The decree comes into force on the day of its publication.

Previously, Andriy Yanevsky served as Head of the Department for Supporting the Work of the Management of the Ministry of Foreign Affairs of Ukraine.

By another decree, the President of Ukraine dismissed Mykhailo Vydoinyk from the post of Ambassador Extraordinary and Plenipotentiary of Ukraine to the Kingdom of Denmark.

The relevant decree No. 710/2023 was published on the President’s website.

The decree comes into force on the day of its publication.

Mykhailo Vydoinyk has been Ambassador of Ukraine to the Kingdom of Denmark since June 25, 2018.

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